8003 33rd Avenue Ct S #64 · Lakewood, WA 98499

$87,500

2 bd · 1.0 ba · 840 sqft · Manufactured public records · 15 Days on market

Built 2007 $104/sqft · 85% above area ↓ 8% since listing

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Why this score? — see what drove the B grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• Cash flow +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Schools +4.0/10.0
• Livability +3.7/5.0
• Rent growth +3.2/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Must see! This quaint two bedroom one bathroom home has a ton of upgrades including beautiful tile work and stone countertops, deep set-in sinks, LED mirrors in the bathroom, and an oversized kitchen island, as well as a high end washer & dryer set and a stainless steel fridge and microwave. The lot space has a large garage perfect for extra storage, but can also be used to park inside of. Canterbury Estates is one of the few parks within the city that still has very low space rent which also includes utilities. Ask me how you can get this home with just 10% down! The park is near the freeway, shopping, and schools. This home is affordable and move in ready with solid bones- just need

Key facts

• Led mirrors
• Deep set-in sinks
• Stone countertops

Tags

• STONE COUNTERTOPS
• DEEP SET-IN SINKS
• LED MIRRORS
• OVERSIZED KITCHEN ISLAND
• HIGH END WASHER DRYER
• STAINLESS STEEL FRIDGE

Property features AI

Finance

• Other: Property type: Residential - Manufactured Home
• Financial info: Listing terms: Cash or Conventional
• HOA & community: Land lease: $670/month; Manufactured home park approved for sale

Exterior

• Parking: Individual garage; Uncovered parking available
• Utilities: Electric energy source; Community water; Serviced by Tacoma Public Utilities
• Home design: Manufactured single-wide home; One level; Model: BROADMORE; Average condition; Mobile home remains on site
• Construction: Metal/vinyl and wood construction; Composition roof; Pillar/post/pier foundation; Manufactured after 6/15/1976
• Exterior features: Metal/vinyl siding; Wood exterior; Paved lot

Interior

• Kitchen: Microwave; Refrigerator
• Bedrooms: 2 bedrooms
• Flooring: Ceramic tile; Engineered hardwood; Laminate
• Bathrooms: 1 full bathroom; 1 shower
• Heating & cooling: High-efficiency heating (90%+); Central air conditioning
• Interior features: Kitchen with eating space; Living room; Utility room; Clubhouse access (manufactured home park amenity)
• Laundry & utility: Washer; Dryer; Utility room

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath manufactured listed at $88k.

Deal economics

• At list price, monthly cash flow is $720 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $88k).
• Recommended offer: $86k (1.5% below list) — sets the bar for market timing.
• Cap rate 16.2% vs local median 2.6% in Lakewood — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Location & tenants

• Location reads 74/100 on livability (#182 in WA, #4,754 nationally) — a middle-class / working-renter tenant base. Strengths: commute A+, health & safety A+, housing A-; Watch: schools C-, cost of living D, crime F.
• Clover Park School District (urban): math 39% / reading 51% proficiency, ranked #190 of 291 in WA (top 65%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents rising (+3.0%/yr); 129 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 17d on market — plan ~3-4 weeks tenant-placement turnaround); 3,209 units permitted in Pierce County in 2024 (1,269 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $605 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Pierce County population projected at +26% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $24k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 15 days — a 2% lower offer ($86k) is reasonable based on typical stale-listing flexibility.

Recommended offer $86,187 (1.5% below list)

Questions for the listing agent

1. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
2. Crime grade is F in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
3. What's the average days-on-market for RENTAL listings here right now (not sales)? A rising rental-DOM trend means longer vacancies and softer asking-rent achievability than the comps imply.
4. What's the recent tenant-quality profile in this submarket — average credit score on applications, eviction rate, late-payment / NSF rate, and stable-employment percentage? A property-management company in the area should have these aggregated.
5. How much new for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Investment metrics

• 1% rule: 1.86% ✓
• Cap rate: 16.16%
• Cash-on-cash: 35.25%
• DSCR: 2.57
• GRM: 4.5

CMA / ARV

• ARV (median comp): $47,288
• List price: $87,500
• Delta: 85.04%
• Verdict: OVERPRICED
• Comps: 19 within 1.0 mi

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
8527 31st Ave S	0.41mi	2/1.0	840 (0%)	11mo	$40,000	$48	72
3250 S 77th St #18	0.17mi	2/2.0	960 (+14%)	6mo	$35,000	$36	59
3121 S 86th street Ct #87	0.42mi	3/2.0 (+1)	950 (+13%)	14mo	$120,000	$126	38

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

-3.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 30.8%
• Equity multiple: 2.29×
• Total profit: $31,660
• Equity at exit: $13,047

10-year hold

• IRR: 38.0%
• Equity multiple: 4.53×
• Total profit: $86,596
• Equity at exit: $7,565

Cash invested: $24,500 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 28 Tenant-Leaning
• State Washington: 28 Tenant-Leaning · D+8
• County: — inherits STATE
• City: — inherits STATE

Just-cause statewide (2021); Seattle layers rent control restrictions + relocation assistance; very tenant-friendly.

Methodology + full state rankings →

ZIP-level market 98499

• Rents YoY: 3.0%
• Active inventory: 129
• Price-to-rent: 4.5×

Monthly cashflow live

• Estimated rent: $1,628 high
• Mortgage (P&I): −$459
• Tax from tax record: −$71 /mo · $850/yr
• Insurance: −$36
• HOA: −$0
• Vacancy / Maint / Mgmt: −$342
• Net cashflow: $720

Break-even live

Break-even rent $717

Max offer price $87,500

Occupancy floor 51%

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $21,875
• Closing costs: $2,625
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
8333 32nd Ave S Lakewood, WA	2.0	1.0	850	$1,695	$1.99	1d	5	0.25mi
2611 84th Street Ct S Tacoma, WA	1.0–2.0	1.0	850	$1,895	$2.23	21d	6	0.39mi
3422 86th St S Lakewood, WA	1.0	1.0	672	$1,295	$1.93	10d	2	0.42mi
8420 S Tacoma Way Unit 1/2 Lakewood, WA	2.0	1.0	800	$1,995	$2.49	17d	1	0.43mi
3418 90th St S Lakewood, WA	2.0	1.0	800	$1,495	$1.87	43d	1	0.68mi
6815 S Warner St Tacoma, WA	3.0	1.0	1034	$2,400	$2.32	2d	1	0.70mi
2205 S 74th St Tacoma, WA	2.0	1.0	880	$1,720	$1.95	2d	1	0.72mi
3407-3411 92nd St S Unit 17 Lakewood, WA	2.0	1.0	700	$1,395	$1.99	24d	1	0.74mi
3411 92nd St S Unit 15 Lakewood, WA	2.0	1.0	700	$1,595	$2.28	24d	1	0.74mi
3415 92nd St S Lakewood, WA	1.0	1.0	650	$1,200	$1.85	17d	1	0.77mi
3415 92nd St S Apt 2 Tacoma, WA	1.0	1.0	650	$1,200	$1.85	16d	1	0.77mi
3102 92nd St S Unit 3104 Lakewood, WA	2.0	1.0	708	$1,497	$2.11	21d	1	0.81mi
8740 S Hosmer St #155 Tacoma, WA	1.0	1.0	750	$1,100	$1.47	24d	1	0.88mi
2604 92nd St S Unit B Lakewood, WA	3.0	2.0	1120	$1,995	$1.78	24d	1	0.88mi
2604 92nd St S Unit B Lakewood, WA	3.0	2.0	1120	$1,995	$1.78	43d	1	0.88mi
1801 S 84th St Tacoma, WA	1.0	1.0	725	$1,295	$1.79	24d	1	0.89mi
9324 S Tacoma Way Lakewood, WA	2.0	1.0	800	$1,995	$2.49	14d	1	0.91mi
3232 94th St S Unit 15 Lakewood, WA	1.0	1.0	632	$1,150	$1.82	24d	1	0.93mi
1721 S 82nd St Unit 1813-10 Tacoma, WA	1.0	1.0	609	$1,300	$2.13	2d	1	0.94mi
1721 S 82nd St Unit 1807-02 Tacoma, WA	2.0	1.0	897	$1,500	$1.67	2d	1	0.94mi
8801 S Hosmer St Tacoma, WA	2.0	1.0–2.0	443	$1,795	$4.05	1d	26	0.96mi
6830 Tacoma Mall Blvd Tacoma, WA	2.0	1.0	980	$1,560	$1.59	7d	1	0.96mi
1721 S 82nd St Tacoma, WA	1.0–2.0	1.0	753	$1,500	$1.99	4d	4	0.99mi
1721 S 82nd St Tacoma, WA	1.0–2.0	1.0	753	$1,400	$1.86	23d	3	0.99mi
1718 S 84th St Tacoma, WA	1.0–2.0	1.0	730	$1,445	$1.98	10d	2	1.00mi
9210 S Hosmer St Tacoma, WA	1.0–2.0	1.0–2.0	787	$1,685	$2.14	1d	12	1.05mi
6601 S Tyler St Unit 13 Tacoma, WA	2.0	1.0	880	$1,300	$1.48	23d	1	1.05mi
2425 S 96th St Tacoma, WA	1.0–2.0	1.0	850	$1,225	$1.44	1d	15	1.07mi
9318 S Steele St Unit D61 Tacoma, WA	2.0	2.0	1000	$1,695	$1.70	14d	1	1.11mi
9318 S Steele St Unit DD520 Tacoma, WA	2.0	2.0	1000	$1,695	$1.70	43d	1	1.11mi
9318 S Steele St Unit Q367 Tacoma, WA	2.0	1.0	960	$1,650	$1.72	43d	1	1.11mi
4215 S 66th St Unit 103 Tacoma, WA	1.0	1.0	615	$1,450	$2.36	24d	1	1.12mi
1819 S 93rd St Unit A Tacoma, WA	2.0	1.0	912	$1,575	$1.73	10d	1	1.14mi
1819 S 93rd St Tacoma, WA	2.0	1.0	912	$1,588	$1.74	17d	2	1.14mi
6451 S Stevens St Tacoma, WA	2.0	1.0	772	$1,595	$2.07	3d	1	1.17mi
6451 S Stevens St Unit 3 Tacoma, WA	2.0	1.0	772	$1,675	$2.17	21d	1	1.17mi
9314 S Ash St Tacoma, WA	1.0–2.0	1.0	800	$1,683	$2.10	1d	21	1.20mi
6031 S Oakes St Tacoma, WA	1.0	1.0	528	$800	$1.52	4d	1	1.20mi
9315 S Ash St Tacoma, WA	2.0	1.5	828	$1,550	$1.87	16d	1	1.22mi
5101 88th Street Ct SW Lakewood, WA	3.0	1.0–2.0	832	$2,258	$2.71	2d	16	1.34mi

Listing history 9 events

1. 2026-06-04
   days on market $87,500 Active 15 DOM
2. 2026-06-03
   days on market $87,500 Active 14 DOM
3. 2026-06-02
   days on market $87,500 Active 13 DOM
4. 2026-06-01
   days on market $87,500 Active 12 DOM
5. 2026-05-31
   days on market $87,500 Active 11 DOM
6. 2026-05-15
   listed $87,500 Active
7. 2024-01-30
   soldstatus $87,500 Closed
8. 2024-01-10
   status Pending
9. 2023-12-06
   listed $94,998 Active

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Tax reassessment forecast WA · Resets to sale price

• Current annual tax: $850 · $71/mo
• Projected year-2 tax: $858 · $71/mo
• Expected delta: +$7/yr (+$1/mo · 0.9%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥86°F today · 14 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 7/10 Severe 11 unhealthy d/yr today · 12 by 30 yrs out

Taxation est. · year 1

• Rental income: $19,532
• − Mortgage interest: −$4,901
• − Property taxes: −$850
• − Insurance: −$438
• − Repairs & maintenance: −$1,563
• − Management: −$1,563
• − Depreciation: −$2,545
• Taxable income: $7,672
• Est. tax owed @ 24.0%: −$1,841
• After-tax cash flow: $6,795/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Schools (NCES district)

• District: Clover Park School District
• NCES district ID: 5301410
• Math proficiency: 39% ▼ -2.00%
• Reading proficiency: 51% ▲ 2.00%
• Median HH income: $42,344
• Composite: 40.11/100
• National rank: #7858
• State rank: #190 of 291 in WA

Livability — Lakewood

• Score: 74/100
• State rank: #182
• US rank: #4754

Category grades

Amenities B+ Commute A+ Cost of living D Crime F Employment B- Housing A- Health & safety A+ User ratings F

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Lakewood, WA
• County: Pierce County · 788,257 people
• City population: 61,673
• Metro: Seattle-Tacoma-Bellevue, WA
• Population (ZIP): 32,464
• Household income: $67,292
• Rent vs Own: 62.1% rent · 37.9% own
• Severe rent burden: 2313.0

Population outlook (Pierce County) Hauer SSP2

• Today (2025): 956,648 people
• By 2030: 1,010,862 · +5.7%
• By 2040: 1,113,170 · +16.4%
• By 2050: 1,206,524 · +26.1%
• By 2075: 1,436,425 · +50.2%
• By 2100: 1,563,654 · +63.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Highly diverse neighborhood (Simpson 0.76)
• Race & ethnicity: White 39% Hispanic / Latino 25% Two or more races 17% Black 15% Asian 8% Pacific Islander 6%
• Hispanic origin (detail): Mexican 17% Puerto Rican 2% Cuban 1%
• Common ancestry: Portuguese 3% Slovak 2% Lithuanian 2%
• Foreign-born: 18% · Canada, South Korea, Vietnam
• Languages at home: 74% English-only · Spanish 16% Korean 3% Tagalog/Filipino 2%

Political lean MEDSL · Pierce

• 2024 margin: D (+10.8) · D 53.9% · R 43.1% · Other 3.0%
• 2008→2024 swing: -1.4pp toward R · 2008: 12.2pp · 2024: 10.8pp
• All cycles: 2024: D+10.8 2020: D+11.2 2016: D+7.5 2012: D+11.0 2008: D+12.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -536.54%
• Current HPI: 288.2797
• Rent YoY: ▲ 3.00%
• Metro: Seattle-Tacoma-Bellevue, WA
• State GDP YoY: ▲ 4.65%
• F500 in state: 22

Industry mix (Fortune 500 HQ in WA)

Industry	F500 HQs	Revenue
▸Retail	2	$269B
▸Technology / Retail	1	$638B
▸Technology	1	$245B
▸Telecommunications	1	$38B
▸Food / Beverage	1	$36B
▸Automotive / Trucks	1	$34B

Price history

-7.9% since first listed

3 events — show timeline

• 2024-01-30 Sold (MLS) $87,500 NWMLS as Distributed by MLS Grid
• 2024-01-10 Pending — NWMLS as Distributed by MLS Grid
• 2023-12-06 Listed $94,998 NWMLS as Distributed by MLS Grid

Property tax history

+4.6%/yr

Latest (2026): $850 · +1.8% YoY. Source: county tax records.